King Luther Capital Management Corp Has $1.68 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

King Luther Capital Management Corp lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,158 shares of the financial services provider’s stock after buying an additional 549 shares during the period. King Luther Capital Management Corp’s holdings in Prudential Financial were worth $1,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp grew its stake in shares of Prudential Financial by 0.3% during the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock worth $2,059,549,000 after acquiring an additional 49,830 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after purchasing an additional 341,787 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Prudential Financial by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock valued at $370,327,000 after purchasing an additional 47,561 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Prudential Financial by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock worth $290,906,000 after buying an additional 6,938 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Prudential Financial by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider’s stock worth $285,601,000 after buying an additional 26,210 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.5 %

Shares of PRU stock opened at $106.16 on Thursday. Prudential Financial, Inc. has a 12-month low of $104.15 and a 12-month high of $130.55. The company has a market capitalization of $38.00 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The firm has a 50 day moving average price of $114.79 and a two-hundred day moving average price of $119.54. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.09%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Analysts Set New Price Targets

Several research firms recently issued reports on PRU. Jefferies Financial Group upped their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. Morgan Stanley decreased their target price on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company upped their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Finally, Piper Sandler decreased their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $126.15.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.